KeyBanc Reiterates Sector Weight Rating on Fluor (FLR)

KeyBanc analyst Sangita Jain reiterated a Sector Weight rating and {REMOVEPT} price target on Fluor (NYSE: FLR).

The analyst comments "FLR missed 2Q on cost creep on legacy projects/slower ramp on other projects. It lowered 2025 guidance but left LT framework (2024-28) unchanged. OCF was lowered and, as a result, the buyback target. FLR will monetize 15M SMR shares in the NT but no definite timeline. Results/commentary point to a tough environment for large capital projects globally as macro policy and trade uncertainty causes a decision-making stasis. Investors are likely to discount the value of core FLR given the macro, lack of confidence in LT guide, and dented credibility of new management team. SMR upside for now seems limited to 15M share sale (~$4/FLR share). We believe the set-up remains challenging despite Friday's sell-off (FLR -27%, SPX -2%)."

For an analyst ratings summary and ratings history on Fluor click here. For more ratings news on Fluor click here.

Shares of Fluor closed at $41.42 yesterday.

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